I said before that one of the bubbles I see in the world is tertiary education in the United States. It’s bankrupt financially and probably other ways besides financially. Business school is basically a waste of time. Most of what you learn is inaccurate and incorrect. Learning things like efficient market theory and some of the other gibberish that they keep putting out and Black Scholes…
All that stuff is totally wrong.
Those poor kids who’ve spent a couple hundred thousand dollars going to business school – not only have they spent a lot of money, but the stuff they learned was wrong. It was inaccurate. Yes, it’s got to change. It’s got to change dramatically.
I certainly was telling students not to go to business school. If you want to spend a couple hundred thousand dollars, I would urge you to go down and short soybeans one day or start your own business. I tell you, you short soybeans a couple of times, you’ll learn more doing that than you could in 10 years at business school.
If you spend your time and money in the real world, you’re probably going to learn a whole lot more than what you would at business school, most of which is wrong.
To give you an idea, in 1958 America graduated 5,000 MBAs a year. In 1958, America was the richest, most powerful country in the world. There wasn’t a number two. Now we produce over 200,000 MBAs per year, and that doesn’t include all the MBAs in other countries. There are tens of thousands in other countries. Everybody else has jumped on this MBA bandwagon.
So MBAs are a dime a dozen at a time when finance is coming under more and more pressure from governments economically, financially and every other way. So MBAs are a terrible waste of time, energy and money. You should take your couple hundred grand and start a business. You’ll learn a whole lot more even if you go bankrupt and lose everything, then you will at business school.
Jim Rogers, via Stockhouse
All that stuff is totally wrong.
Those poor kids who’ve spent a couple hundred thousand dollars going to business school – not only have they spent a lot of money, but the stuff they learned was wrong. It was inaccurate. Yes, it’s got to change. It’s got to change dramatically.
I certainly was telling students not to go to business school. If you want to spend a couple hundred thousand dollars, I would urge you to go down and short soybeans one day or start your own business. I tell you, you short soybeans a couple of times, you’ll learn more doing that than you could in 10 years at business school.
If you spend your time and money in the real world, you’re probably going to learn a whole lot more than what you would at business school, most of which is wrong.
To give you an idea, in 1958 America graduated 5,000 MBAs a year. In 1958, America was the richest, most powerful country in the world. There wasn’t a number two. Now we produce over 200,000 MBAs per year, and that doesn’t include all the MBAs in other countries. There are tens of thousands in other countries. Everybody else has jumped on this MBA bandwagon.
So MBAs are a dime a dozen at a time when finance is coming under more and more pressure from governments economically, financially and every other way. So MBAs are a terrible waste of time, energy and money. You should take your couple hundred grand and start a business. You’ll learn a whole lot more even if you go bankrupt and lose everything, then you will at business school.
Jim Rogers, via Stockhouse
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